Jena Pang, 36, started collecting the stuffed toys as an investment in 2002 and went on to buy 500 of them over the years.
But the ex-solicitor is relocating to Hong Kong with his mum, Amy, and so sold 32 of the antique bears at a recent auction for the eye-watering amount.
The chap from Southend, Essex, was forced to sell the rarer toys as he fears the tropical humidity in his new residence could cause damage to them.
And they've have certainly been treated well over the years; Jena has flown them first class on his holidays and even shared afternoon teas with them at glitzy London restaurants like The Ritz and The Dorchester.
We wish we were that lucky!
He was quoted in The Sun discussing the sale of the teddies, saying: "I am sad but they are going to good homes."
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